VAT – MHC Accountant

VAT

VAT is a transaction tax that impacts on all businesses and industry sectors. It has become an increasingly important tax for business and governments alike. VAT and similar transaction-based taxes have been introduced in most parts of the globe.

VAT

VAT is a transaction tax that impacts on all businesses and industry sectors. It has become an increasingly important tax for business and governments alike. VAT and similar transaction-based taxes have been introduced in most parts of the globe.

At MHC Accountant, our specialist team are dedicated to the provision of VAT advisory and compliance services. Our aim is to unravel the complexity of VAT. We provide clear, concise and commercially grounded advice to directly address our clients’ needs.

We pride ourselves on solving difficult VAT problems in a practical, timely and cost-efficient way. We identify cash-saving opportunities, advise on the correct VAT treatment, and help our clients manage VAT risk. Our team is pro-active, knowledgeable and commercially aware, and we have a friendly and professional approach when working with clients.

The breadth and depth of our experience spans all business sectors. Based in London. We work with clients across the UK. Get in touch to find out more.

Commercial and residential property

We specialise in all areas of VAT property matters. If you are involved in residential or commercial property investment, development or construction, you could benefit from our pro-active and commercial approach.

Buying or selling property

Our team is highly skilled at identifying issues and coming up with practical working solutions. We are familiar with all aspects of ‘transfer of a going concern’ relief for property businesses and how to achieve it. We understand how tax options can be beneficial and when they will create extra cost.

Clients benefit from our innovative solutions to reducing risk during property transactions. We work closely with our tax and advisory colleagues to ensure our advice fits with our clients’ overall business objectives.

We will identify ways to reduce VAT costs and to ensure your property is as VAT efficient as possible.

Value added tax (VAT)

As part of the Making Tax Digital process, all businesses will be required to keep digital records which must be submitted online. At MHC Accountant, our software is fully MTD compliant to ensure your returns are submitted on time.

If you are a new business owner and need some help with VAT, contact our accountants today. Our advisors can ensure there are no issues regarding your liability.

Obtaining VAT relief

We are experienced in all aspects of VAT relief and compliance requirements on property disposals, conversion or construction.

We advise clients on how to obtain VAT relief and how to comply with the relevant conditions. We can guide you through the process of obtaining clearance from HM Revenue & Customs (HMRC), where applicable, and advise you on the practical problems you may encounter during a project.

Reducing VAT costs

We help clients negotiate and agree special partial exemption methods with HMRC to reduce their irrecoverable VAT costs. We can quickly identify if your VAT recovery method is fit for purpose and advise on the benefits and risks of seeking to change your method.

Reducing VAT costs

We help clients negotiate and agree special partial exemption methods with HMRC to reduce their irrecoverable VAT costs. We can quickly identify if your VAT recovery method is fit for purpose and advise on the benefits and risks of seeking to change your method.

Review of VAT systems and accounting procedures.
VAT registrations and grouping.
Transfers of going concerns.
Flat rate VAT
Partial exemption and Capital Goods Scheme calculations.
Opting to tax land and property.
Special VAT accounting schemes (e.g. cash accounting).
Place of supply of goods and services.
VAT rates and liabilities.
Invoicing and record keeping requirements.
Import and export compliance documents.
Contract reviews and VAT clauses.
Correct application of VAT reliefs.
Dealing with errors, corrections and VAT reclaims.

VAT efficiency and cost saving

Taxpayers and businesses are entitled to organise their business affairs in a tax efficient manner. The fundamental purpose of VAT is to act as a tax on a final consumption. However, VAT can catch the unwary and create cost as it passes through the supply chain.

Your business doesn’t have to miss out on VAT because of the way it’s organised. Our aim is to help clients pay the right amount of tax at the right time. We can help clients identify and reduce VAT costs. Our services in this area include:

Reviewing and advising on efficient structures.
Working with clients and their legal advisers on contracting.
Reviewing partial exemption methods.
Obtaining VAT rulings and making VAT repayment claims.
Reducing VAT cash flow costs.
Identifying sources of irrecoverable VAT and advising on cost reduction strategies.
Improving efficiency in VAT processes and controls.

Bookkeeping & VAT

Our dedicated team can compile VAT returns and produce accounts for corporation tax purposes.

Our experienced bookkeepers can help you manage your takings record and advise you on the documents you need to supply every quarter and every year.

Let us shoulder the burden of book keeping, so that you can focus on growing your business.

We can undertake and complete VAT returns, EC sales lists, applications for registrations, and option to tax forms on your behalf. Alternatively, we can review your accounting procedures and systems, or provide appropriate training to key members of staff.

If you are scheduled to receive a VAT inspection, our focused risk assessment could identify risk areas and help manage VAT exposures to help achieve a more favourable outcome.

If a VAT inspection were to lead to a dispute between your business and HMRC, we can assist with dispute resolution in an effective and timely manner. We help our clients prepare for their VAT inspections by undertaking health checks, attending meetings with HMRC and dealing with queries after the event.

Strategy Development

Good strategy is the antidote to competition. Strategic thinking is the process of developing a strategy that defines your value proposition and your unique value chain. This process includes market and competitive research as well as an assessment of the company’s capabilities and the industry forces impacting it.

Strategic Plan Development

Good strategy is the antidote to competition. Strategic thinking is the process of developing a strategy that defines your value proposition and your unique value chain. This process includes market and competitive research as well as an assessment of the company’s capabilities and the industry forces impacting it.

Strategic Plan Execution Management

Good strategy is the antidote to competition. Strategic thinking is the process of developing a strategy that defines your value proposition and your unique value chain. This process includes market and competitive research as well as an assessment of the company’s capabilities and the industry forces impacting it.

Strategy Development

Good strategy is the antidote to competition. Strategic thinking is the process of developing a strategy that defines your value proposition and your unique value chain. This process includes market and competitive research as well as an assessment of the company’s capabilities and the industry forces impacting it.

Strategic Plan Development

Good strategy is the antidote to competition. Strategic thinking is the process of developing a strategy that defines your value proposition and your unique value chain. This process includes market and competitive research as well as an assessment of the company’s capabilities and the industry forces impacting it.

Strategic Plan Execution Management

Good strategy is the antidote to competition. Strategic thinking is the process of developing a strategy that defines your value proposition and your unique value chain. This process includes market and competitive research as well as an assessment of the company’s capabilities and the industry forces impacting it.